Darling Ingredients (NYSE:DAR) PT Lowered to $48.00 at Piper Sandler

Darling Ingredients (NYSE:DAR) had its price target dropped by analysts at Piper Sandler from $50.00 to $48.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 29.80% from the stock’s previous close.

DAR has been the topic of several other reports. Jefferies Financial Group decreased their price objective on shares of Darling Ingredients from $47.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Scotiabank decreased their price objective on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, TD Cowen decreased their price objective on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Darling Ingredients presently has a consensus rating of “Moderate Buy” and an average target price of $55.70.

Darling Ingredients Trading Up 2.7 %

Shares of DAR stock opened at $36.98 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.91 and a debt-to-equity ratio of 0.95. Darling Ingredients has a 12-month low of $32.67 and a 12-month high of $51.36. The stock has a market capitalization of $5.91 billion, a P/E ratio of 11.07 and a beta of 1.24. The firm’s 50 day moving average is $37.61 and its 200 day moving average is $39.50.

Darling Ingredients (NYSE:DAR) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.10. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm earned $1.55 earnings per share. The company’s quarterly revenue was down 17.2% on a year-over-year basis. Research analysts expect that Darling Ingredients will post 2.26 earnings per share for the current year.

Insiders Place Their Bets

In other Darling Ingredients news, EVP Robert W. Day acquired 2,532 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was acquired at an average cost of $39.37 per share, with a total value of $99,684.84. Following the purchase, the executive vice president now directly owns 12,607 shares of the company’s stock, valued at approximately $496,337.59. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.62% of the company’s stock.

Hedge Funds Weigh In On Darling Ingredients

A number of large investors have recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Darling Ingredients by 21.9% during the 3rd quarter. Creative Planning now owns 22,354 shares of the company’s stock worth $831,000 after purchasing an additional 4,021 shares during the period. Harrington Investments INC lifted its holdings in Darling Ingredients by 5.1% during the 3rd quarter. Harrington Investments INC now owns 14,424 shares of the company’s stock valued at $536,000 after buying an additional 700 shares in the last quarter. Guinness Atkinson Asset Management Inc lifted its holdings in Darling Ingredients by 11.1% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 4,960 shares of the company’s stock valued at $184,000 after buying an additional 496 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Darling Ingredients by 173.9% during the 3rd quarter. GAMMA Investing LLC now owns 830 shares of the company’s stock valued at $31,000 after buying an additional 527 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Darling Ingredients by 0.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,204,023 shares of the company’s stock valued at $44,741,000 after buying an additional 6,200 shares in the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.

About Darling Ingredients

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.